West End sees fewer Asian tourists amid Covid-19 restrictions and EU visa appeal
London’s West End has seen fewer Asian tourists amid sustained Covid-19 travel restrictions in China and mainland Europe’s visa appeal – however US tourists are flooding back.
While footfall and tourism levels are recovering comfortably after a gloomy pandemic period, the West End is seeing “fewer long haul Asian visitors at the moment”, with many tourists opting for the Schengen area in mainland Europe, instead of getting separate visas for the UK, Shaftesbury boss Brian Bickell told City PM today.
Real estate investment trust Shaftesbury’s 16-acre West End portfolio has swelled in value over the past few months, as tourists return to the British capital.
The portfolio, which spans popular spots such as Carnaby Street, Chinatown and Soho, has increased by around £250m since September last year, to a total of £3.26bn.
“A lot of the stories on chaos at airports are not very helpful either,” Bickell continued, however, he noted that a few hours delay over a week-long holiday is unlikely to significantly deter tourists.
Although strict travel measures in China have curbed tourist levels from the country, Bickell said the area did not particularly rely on Asian tourism anyway.
“All international is recovery is at a different pace. We are seeing more Europeans making their way into London,” he said, adding that “bookings from the US are looking very good for the summer,” too.
Ultimately, the real estate investment trust is grateful for the domestic footfall, which has spiked alongside the rise in staycations. “London has always been about Londoners. Tourists are the icing on the cake,” Bickell concluded.